Thurs. PM KTFA News 4/4/19

by **Ssmith** Fri Apr 05, 2019 9:44 am

Don961 » April 4th, 2019

re-posting .. on top of the Most Read Article list on this news site ...

"I-Dinar" .. the first electronic platform for the Islamic exchange of digital currency

- 16 Days Ago

On the sidelines of the 5th International Islamic Finance Conference, the first Islamic platform for the exchange of gold-backed digital currency, I-DINAR, was launched in Doha today.

The I-Din platform is an electronic symbol based on the exchange of digital currency. Its initial value of one dinar is supported against one gram of gold, which is not only a digital currency, but for a real gold eye.

With the golden cover of the coin, "I-Dinar" is not only a symbol but a form of electronic gold portfolio. With the remarkable progress in the electronic exchange chain technology, i-Dinar can be used as a common denominator for executing and settling many financial transactions and exchange operations And trade.

Through this currency, Qatar offers the latest e-currency concept and technology distinct from the others in the quality of technology and applied standards. In addition, the currency reflects real value that can be obtained at any time, while achieving the principle of maintaining the assets owned by the client and the speed of implementation Any financial or commercial transactions in full compliance with Islamic law.

The announcement was made as a result of extensive work, studies and meetings between a team from the Qatar Financial Center, the Board of Directors of Qaf Holding Group and the Malaysian IbadahInc Foundation.

The Chairman of Qaf Holding Group Khalid Al Suwaidi said that the i-dinar platform initiative is an indication of the increasing awareness and economic culture of the State of Qatar and its understanding of future changes and requirements despite all the challenges in general. This is an unprecedented achievement on the ground to develop cooperation, trade and prosperity. Economic and wealth of the Islamic world in the face of the challenges of the age and rapid digital economic development in particular.

Al- Suwaidi said Al-Suwaidi expected the new platform to achieve a great deal of resonance in the near future because it achieves two important goals. The first is to acquire a sophisticated digital currency that has confidence in customers. The second is that the currency, , Which will increase the confidence of scientists in dealing.

He added that the currency in its current form has passed all stages of the test even through Islamic standards in dealing with currencies as a real currency has a real balance similar to the currency backed by a gold balance, pointing out that this currency has taken the criteria of universal acceptance and technological development in terms of accuracy and security.

The spokesman for the Malaysian Cultivation Establishment Abbas Ali explained that the purpose of the platform was to facilitate and implement multi-product digital financial transactions that allow the trading of "i-dinar" with or for any other goods or products or coded currencies or any combination of solutions Financial instruments, as well as financial and commercial contracts from anywhere and at any time worldwide easily and conveniently.

He said the new currency was a huge technological revolution in the world, being the first "mixed" digital exchange of its kind in the world, using a digital symbol supported by gold and has real value.

The 5th Doha Islamic Finance Conference, held under the title "Islamic Finance and the Digital World", was launched today. The conference aims at presenting the experiences of the central banks in dealing with digital financial developments and their potential risks. Legal and technical standards and the importance of the digital economy and its role in achieving sustainable development goals.

In its fifth edition, the conference focused on discussing the effects of digital development on Islamic finance, through its main interlocutor, reviewing the experiences of the central banks in light of the major changes in the world of business and finance due to the enormous and significant development of information technology. Financial institutions and banks to quickly study their future opportunities and the possibility of transition to the digital world.
Source: Al Jazeera link

Samson » April 4th, 2019

Al-Qasabi: Iraq provided 186 investment opportunities to Saudi Arabia LINK

MilitiaMan » April 4th, 2019

Now they are talking going from planning to implementation phase. The MOUs are going to facilitate trade. We were told months ago, SA wouldn't come in until Iraq was ready and it sure looks like they are making the move now. They supply electricity to Iraq now. Mining, refining, etc, are all very energy reliant.. As is reconstruction of a country. This is telling us they are imo ready to go global and they are going to be the Central Hub once again for the Middle East at large. imo ~ MM

Samson » April 4th, 2019

Iraq spends $ 30 million annually on travel of officials and allowances

Iraq has spent 30 million dollars a year on foreign spending and travel, officials said on Thursday, noting that the cost is the highest in the region.

"Various Iraqi government and parliamentary sources estimate the annual expenditure by the state on travel of officials abroad, in the context of what is known locally as "foreign dividends", by more than 30 million US dollars," the New Arab newspaper said in a report. , Including the Presidency of the Republic as well as the Prime Ministers and the Parliament and ministries and other governmental institutions in the country.

The newspaper added that "the highest cost at the level of the countries of the region, especially since it was customary to accompany the official family or even his friends in his travel dedicated to the functions of official public interest," noting that "an Iraqi parliamentary bloc is preparing to launch a broad campaign aimed at pressure on the government To classify the file "Foreign Deposits" one of the "doors of corruption" in Iraq, which Prime Minister Adel Abdul Mahdi, it is dozens and consume public money.

The newspaper quoted an official as "high-level" in the Office of Prime Minister Adel Abdul-Mahdi as saying, "Iraq is sending monthly at least 20 delegations from various ministries and institutions to several countries, including at least 10 delegations useless, "It is possible to accomplish many tasks through correspondence or video interviews and telemedicine," noting that "the strange is to accompany the official with his family, with the cost of the Iraqi state, but in twisted ways, through which circumvention of the law to include the expenses of the family of the official under other headings".

"The same applies to Iraqi parliamentarians who took their families and relatives with them during official foreign missions. LINK

Next Saturday .. Launch of the World Economic Forum in Jordan

4th April, 2019

The World Economic Forum will be held in Jordan next Saturday, the first of its agenda for the year

The World Economic Forum is being held under the theme "Building new systems of cooperation", the tenth time in Jordan, and will continue for two days

The forum is attended by UN Secretary-General Antonio Guterres and Palestinian President Mahmoud Abbas at a session expected to be attended by 1,000 government leaders, heads of companies and civil society representing 50 countries around the world

The Forum will be attended by Egyptian Minister of Tourism Rania Al Mashat, Khalid Al Rumaihi, CEO of Bahrain Economic Development Board, Thani Al Zaidi, Minister of Climate Change and the UAE Environment, and Alan Bajani, CEO of Majid Al Futtaim Holding Group

The Forum will also be attended by Wafa Bin Hussein, Middle East and North Africa Policy Advisor, Sumatra Chakrabarty, President of the European Bank for Reconstruction and Development (EBRD), Tony Chan, President of KAUST, and Sigrid Kag, Minister of Foreign Trade and Development Cooperation of the Netherlands

The first day of the forum begins with a press conference to introduce the main participants to the forum at 8:45 GMT, separated by two sessions entitled "New Standard for Public Education" and "Cyber Risk Management

The opening session will begin at 10:30 GMT, followed by a session entitled "shaping the future of tourism in Jordan" and an 11th and a half press conference entitled "Global Shippers Launches Centers in East and West Jerusalem

The first day also includes a number of seminars entitled "New Energy for the Middle East", "Geopolitical Outlook" and Special Notes: On the Middle East

At 1:30 pm, a press conference will begin with the Chief Executive of the Islamic Republic of Afghanistan, followed by Galtsin entitled "The Rise of Arab Women" and "The Shape of Cities Surrounded by Man

At 3 pm a press conference entitled "Launching the People's University" begins, and another on "What can be done to advance gender diversity", the "Reconciliation and Reconstruction" symposium and the "Start Revolution

And at 5 pm meeting with Saudi Minister of Energy and Industry Khaled Al-Falih

And a symposium entitled "Eurasia in the New World Context

On the second day, several seminars will be held: "Environmental Supervision in the Arab World", "Digital Retailing" and Fourth Industrial Revolution in the Arab World

The "two-state solution in a multi-concept world", "extremism: lessons from the past", "infrastructure expectations" and building new platforms for cooperation

MilitiaMan » April 4th, 2019

With them speaking in terms of Industrial Revolution and a close neighbor and trading partner to Iraq, we can be assured that Saudi Arabia has energy on the mind for to feed Iraq electricity among other things that may include natural resource extraction, etc.. Not to mention reconstruction efforts as Iraq is Central to the region in many ways. ~ imo MM